With this acquisition, mGage has gained a strong foothold in enterprise mobile marketing and mobile CRM market in India, the company said in a statement.

The mGage multi-channel platform serves more than 1,000 bluechip brands, enterprises and partners through a network of more than 800 mobile operators around the world.

As a combined organisation, mGage will enable more than 60 billion transactions annually. Equirus Capital acted as the exclusive financial advisor to mGage for the transaction.

“Success in the mobile engagement market today is dependent on the depth of a company’s solutions, the expertise of its team, and its global scale,” Jay Sheth, chief executive of mGage told the Economic Times.

“I am excited that mGage now leads the industry in each of these areas subsequent to the Unicel acquisition,” he added in the report.